Kodak reports net earnings of $16 million for 2016

Eastman Kodak Company today reported financial results for the fourth quarter and full year 2016, delivering net earnings of $16 million on revenues of $1.5 billion and continued growth in key product lines:

  • GAAP net earnings of $16 million for the year ended December 31, 2016, an improvement of $91 million over 2015.
  • Operational EBITDA for the year of $144 million.
  • Revenues for 2016 of $1.5 billion, compared with revenues of $1.7 billion for 2015, down $166 million, or 10 percent.
  • Key product lines achieved strong growth:
    • Volume for KODAK SONORA Process Free Plates grew by 9 percent for the full year.
    • Volume for KODAK FLEXCEL NX Plates grew by 16 percent for the full year.
  • Operating expenses (total SG&A and R&D expenses) were $212 million for the year ended December 31, 2016, a $36 million, or 15 percent, improvement compared with 2015. $15 million of this improvement was due to increased non-cash components of pension income.
  • The company ended the year with a cash balance of $433 million. Cash used in operating activities improved by $82 million compared with 2015.

Full press release is available here.

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  • Zos Xavius

    It would be nice to see Kodak stick around another 100 years. I’m truly hoping that the tide has turned somewhat for them. On that note I just ordered a bunch of their film.

    • silmasan

      The film division seems to be in decline as well though.

      Going forward, the only thing that may help keep the film in (small) production would be a community that’s at least as fervent as lomography supporters.

      • Zos Xavius

        If their film division is in decline why did they just lower the price on ektar and why are they reviving old emulsions?

        • silmasan

          Because last year there was such a huge “resurgence” of interest in film…? 😀
          Alright, I could’ve read it wrong, I’m not even sure now what exactly is the relationship between Kodak and Kodak Alaris (licensee? subsidiary?). But anything that helps keep Portra exist in our world is a good thing!

  • Brennan McKissick

    Things continue to look up for Kodak. So far I think they are doing all the right things.

  • MonkeySpanner

    Why do I get the feeling that in 10 years Nikon will go down the same path Kodak is on now?

    • Lucytech

      if Nikon drop all ideas about consumer market and never try to make another coolpix, DL, Keymission type of stunt (“lets follow the crowd with 10 years delay”) nikon worst days are over.

  • Ron Wilson

    Go Kodak go!

  • ZorroRules

    Well as I understand it, they don’t really do film anymore they got rid of that in a settlement to pensioners over in Britain making Kodak-Alaris or some such similar name and are the new and seperate owners of film products. Now whether this was all the film production or not I don’t recall but I think they still manufacturer where the factory is in Rochester for at least some film if not all. But basically there is no Kodak as we recall from our past, there is a company owned by British pensioners that sells film under the kodak name, and there is a twitching nearly dead body of an odd conglomerate of an organization that uses the kodak name, having totally emasculated itself from its origins, located in Rochester, which also has nothing really to do with film, other than maybe being a subcontractor. At least that is how I heard it. They even sold the name to be used by some odd camera manufacturer, so there is basically as much of a kodak today as there is polaroid, which in my estimation is all about as real as unicorns. But, I could be wrong, it is all based on what I recall reading, and I can’t recall who was president right after Washington and I know I read that.

  • peevee

    What the hell is “KODAK SONORA”?

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